act and warrantglossary / ACT AND WARRANT act and warrant. Scots law. A sheriff’s order appointing a trustee in bankruptcy, upon which the trustee assumes office and becomes vested with the bankruptcy estate. 词条贡献者 双语律师William,国内知名法学院金融专业,擅长翻译各类与投资基金、投资顾问及金融衍生工具相关的法律文件。